You have two levels of support when you become a PandaPay client. Your first level of support comes from your dedicated Client Relationship Advisor (CRA). Your CRA will provide you with his/her direct contact information in case you have any questions or concerns. In the event that your concerns require more technical assistance, PandaPay is proud to provide you with 24/7 technical support.

A chargeback occurs when a cardholder challenges a credit card charge. The process for investigating chargebacks is long and costly for both merchants and payment processors. In the event of a chargeback, PandaPay clients will receive a notice by mail or email to which they must provide a rebuttal to the cardholder’s issuing bank within 30 days.

The Interchange is the fee collected by the customer’s credit card bank on every transaction. These rates are set by Visa and MasterCard every year and apply to all processors. In other words, this is the true cost that a processor has to pay on every transaction. Please note that the Interchange fees are the same for all payment processors in Canada.

This is normally a monthly fee for not being compliant with the PCI DSS standards. The Payment Card Industry Data Security Standard (PCI DSS) is a set of requirements designed to ensure that ALL companies that process, store or transmit credit card information maintain a secure environment.

The discount rate is the rate merchants are often quoted before signing up with a payment processor. It usually represents only 1 of many rates a merchant can pay. The effective merchant discount rate (EMDR) represents the actual rate being charged after considering all the various credit card types and their associated rates.

The Code of Conduct came into effect in August 2010 and is intended to promote fair business practices and ensure merchants and consumers to clearly understand the costs and benefits of credit and debit cards in Canada. PandaPay is proud to go above and beyond the requirements set in the Code of Conduct. To read more about the Canadian Code of Conduct, click here.